What’s my Escondido Home Worth?
Escondido Market Report for June 2024
Escondido is approximately 20 miles east of the beaches, and borders San Marcos and Fallbrook in North San Diego County.
It’s important that buyers and sellers in the Escondido housing market are well educated about the current local market conditions (Read More: Real Estate Is Local…But HOW Local?) so they can make informed buying and selling decisions about Escondido homes for sale.
READ MORE:
A Tour of Escondido – A Diverse Inland San Diego Community
The following data were taken from the MLS (private sales are not included, nor are multifamily properties, or mobile and manufactured homes). The information is believed reliable at the time this market report was written but not guaranteed.
104 homes sold in June, 16% fewer sales than last month (124). Here’s a summary of the activity.
Single Family Homes Sold
86 (down 17%); 20 Average Days on Market; Average Sales Price $1,141,487 (up 3%); the Average Sales Price was 99% of the original asking price.
Condos, Townhomes & Duplexes Sold
18 (down by 2); 22 Average Days on Market; Average Sales Price $535,822 (down 6%); the Average sales price was 98% of the original asking price.
Overall home sales in June decreased from May. There were fewer single family home sales, and 2 fewer condo, townhome and duplex sales. The average sales price was slightly higher for single family homes, but 6% lower for condos, townhomes and duplexes, compared to May.
The marketing time was 2 days longer for single family homes than last month, and 4 days longer for condos, townhomes and duplexes. Sales prices ranged from $316,600 to $3,350,000.
While plenty of buyers negotiated their purchase prices, a little over half (53%) paid asking price or more for their new homes. Buyer competition continues to impact pricing and sales.
A number of buyers made quick decisions about touring homes and making offers. 37% of the homes went pending in 7 days or less.
The median sales price of the detached single family homes was $1,010,000 (a very slight decrease). The median price was $500,000 for condos, townhomes and duplexes, down 10% from May.
There were 13 Escondido homes on the market with an Active Under Contract Status, compared to 14 last month. These are included in the following statistics.
At the end of June there were 209 homes for sale in Escondido, up 13% from last month, which was good news for buyers. List prices range from $349,000 to $25,000,000 (plus 1 condo time share priced at $4,000).
This represents an inventory of 2.3 months for condos, townhomes and duplexes (down from 2.7 months last month). There is a 1.9 month supply of single family detached homes (up from 1. 5 months last month), based on the rate of sales over the last 3 months. Escondido continues to be a very strong seller’s market for home buyers.
153 homes came on the market in June, compared to 158 last month. The number of homes going pending increased from last month, from 90 to 97, excluding homes that closed escrow in June.
I’m pleased to share more details about current real estate activity in the Escondido housing market, in specific zip codes, and for neighborhoods that interest you, and to answer your questions about the local market conditions.
Please reach out to me directly or via text at (760) 840-1360 to discuss your personal housing needs, lifestyle, and budget. Then we can develop a strategy to buy your new Escondido home when the time is right for you!
If you want to sell your Escondido home, I can provide a market value and equity analysis for your property. We can also discuss a marketing strategy, plus your specific plans and timing. Together we’ll develop a plan to get your home sold quickly for the best price, terms, and conditions.
SEARCH FOR ESCONDIDO HOMES FOR SALE
READ MORE:
What’s my Escondido Home Worth? Escondido Real Estate in May 2024
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